MGR is an integrated, diversified property group that comprises of an investment portfolio and development business, the stock is reasonably priced trading on an estimated 14.4x valuation for 2022 while it’s expected to yield 4.7% over the next 12 months. The company last reported and paid its reliable 0.052c dividend in June and with no fresh news likely until December it feels unlikely that MGR will be leading any recovery by the property stocks.
- We wouldn’t be surprised to see MGR add to its 38% decline by making fresh 2022 lows in the coming months.
- As we’ve said repeatedly this year we want to be invested in a sector’s quality stocks and MGR doesn’t currently make this cut.
MM is neutral/negative MGR
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